The global ferrosilicon market is anticipated to rise at a positive CAGR in the forthcoming period. Ferrosilicon market is driven by factors such as increasing demand for ferrosilicon and inoculant. Rise in consumption of steel products for construction and maintenance is likely to contribute to the market growth in the near future. Surging demands for silicon-slag, which is widely used in steel castings, contribute to the market growth in the forecast period.
Application segment for ferrosilicon market includes inoculant and deoxidizer. Deoxidizer segment enjoys significant demand from the industry and is expected to drive the overall industry growth. Rise in demand for inoculant is anticipated to have a positive impact on the industry growth. With added features such as minimal formation of dross and low vulnerability to shrinkage formation, inoculants have a significant demand during the forecast period.
End-use segment for ferrosilicon industry includes carbon, alloy steel, electric steel, and stainless steel. The steel industry accounts for a significant market share due to high demands for manufacture of various types of steel. Carbon steel coupled with the other steel segments is leading the market growth and accounts for more than 45% of the global market. Demand for steel product in the industry is normally driven by carbon and alloy.
Regional segmentation for ferrosilicon market includes North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions are expected to gain a prominent market share due to rise in steel and metal manufacturing industries. China and Russia being the major producers of alloy and steel determine the pricing trends in the industry.
Middle Eastern and African regions expect to rise at a prominent CAGR due to rise in overall production of crude steel and rising demand for alloy steel in deoxidization process. The key players in the ferrosilicon industry include Elkem AS, China National BlueStar Co Ltd, FerroAtlantica Group SA and AMG.
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Carbon & other alloy steel
• Stainless steel
• Electric steel
• Cast iron
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
Research Support Specialist, USA